Can Silicon Valley be repeated in Africa?

2 Nov 2012

IBM's Venture Capital Group is a really interesting cog in the startup machine. It's not a fund and yet, through it, IBM has managed to invest in a bevy of startups that align with its Smarter Planet initiative.

Smarter Planet is an umbrella concept under which IBM aims to uncover and foster technology that moves society forward in big ways. Think about smarter systems across just about every industry that can lead to things like improved electrical grids, traffic management systems and protection online - to name a few examples.

IBM's SmartCamps attempt to uncover startups working on these kind of problems. IBM connects VCs, mentors and startups, and then, intriguingly, sits back. IBM doesn't invest in startups directly, nor does it actively nurture them. Instead, VCs do the work, and happily too, as selling a company on their roster to IBM, an IBM partner or client is a compelling exit. IBM also invests in VC funds, about 70 around the world.

It's an interesting approach, and if you look beyond the monetary and societal payoffs, a valuable one for the entrepreneurial ecosystem.

IBM recently held its first SmartCamp in Africa and we had a chance to sit down with Martin Kelly, an IBM Venture Capital Group partner for the EMEA region and the mastermind behind SmartCamp.

Continue reading the full story on www.ventureburn.com.

Share this article

NextOptions

Source: Memeburn

Launched in April 2010 by Matthew Buckland, Memeburn is a news and opinion platform tracking tech culture, innovation and business. It plays particular attention to the web, mobile, social media, online media and social networking fields. Key opinion-leaders contribute to Memeburn, providing their insights on the online industry. Subscribe via email or RSS for regular updates. Follow memeburn on Twitter at @memeburn.

Go to: http://www.memeburn.com